![]() ![]() ![]() After all, the new model of “free” often means the user – for better or worse – becomes the product.īut beyond my personal folly and ignorance, I am also security- and privacy-minded. Although, it could be argued that paying a fee makes you think twice before making a trade – a sort of deterrent against folly and ignorance getting the better of you. A $9.95 fee on every trade, which my personal bank charges now, is a stumbling block for many like myself who have been hesitating to get started. The cumulative effect brought on by the no-fees movement was to democratize trading. In 2020, CMC Markets, Dabble, eToro and IG also joined the fray. The Bank of America and Wells Fargo followed suit two months later. In rapid succession the following October, E*TRADE, TD Ameritrade, Charles Schwab and Fidelity all announced they were slashing their brokerage fees. ![]() Then in September 2019, Interactive Broker jumped on the no-fees bandwagon, which set off a domino effect. The startup has since expanded to include options and cryptocurrency. Robinhood, a US-based FinTech startup, began by offering US-listed stocks and exchange-traded funds at $0 per trade. One of the first (app developers) to build a no-fees platform was Robinhood back in 2013. Wherever I start, my most important launch-off criterion is to keep the “gambling” risk low and build enough trust that everything I do on platform X or on exchange Y is as secure and private as possible.Ĭommission-free trading has only been widely practiced for the last year or so. But where can a rookie like me start dabbling? Should I trade in cryptocurrency? In currency? Or should I go for traditional stocks? ![]() Getting into the world of e-trading has been a secret desire of mine for some time. Channeling your money into a trading platform deserves closer scrutiny of security ![]()
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